BaylorSpineGuy said:

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Farmer, what's up with XOM volume today? 3rd highest in a year. And I didn't see any major news….

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Accumulation big boy.

BaylorSpineGuy said:

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Farmer, what's up with XOM volume today? 3rd highest in a year. And I didn't see any major news….

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BaylorSpineGuy said:

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Farmer, what's up with XOM volume today? 3rd highest in a year. And I didn't see any major news….

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XOM Volume:
Today = 43.13 mil
65DMA = 16.4 mil

At The Closing Bell 19,132,733
At 415pmET, 15 minutes after the Closing Bell = 42,711,623

I wasn't at my computer for the Closing Bell. I had someone else monitoring for me. I trust the numbers. I monitor volume on XOM. Volume adjustments (15 minutes after the Closing Bell) these past 2 weeks have predominantly been +2.5 million - that's high. Not including today, 50% of XOM daily volume trades in the last 1 to 2 hours of the session and 20% of the XOM daily volume trades in the last 20 minutes.

What happen,....and a little more...
- Quad Witching (?)
- There was a 5 million share trade at the open. Not normal. In fact, highly abnormal.
- I think Goldman is getting their whales positioned. They announced a cut in their target for crude the day after their Economist Jeff Currie said no change in crude and look for $95+ oil in 23H2. Read on,..
- More airfare/travel news. European flights have surged in price to $1,200 per person round trip. According to the travel experts this is a way high price and being snapped up. Travel is up 20% over 2019 levels right now. (crude oil lingers at $70's)
- A lot of fellow XOM holder friends are singing the blues. I'm not. IMO, SHTF in July. Somewhere within my last 7 posts there is my list of current impact points. Click my profile and you'll see them. Easier to find versus scrolling pages in this thread. Those points are basic & bullish. A crude and energy rally is coming. Don't care what pundits are saying.
- The ONLY bearish scenario I can give you is JP raising rates. Two 25 percentage point moves will kill this economy. One 25 percentage point move will hobble the economy. That's the bearish side I see. In 2 rate hikes, the federal budget gets consumed. Do you cut SS or Medicare to generate cash....not happening....that's why 1 hike & hold is possible, but not 2.
- There are off shore bearish inputs out there but mentioning Chinese sometimes blurs thinking. As always, watch out for these smiling cats. (Taiwan certainly is.) Just because they might dump all of the U.S. debt they own on the market in an overnight session to create chaos, it does not mean there will be a currency replacement as a result. See, if the Chinese dump U.S. debt, U.S. sanctions and monetary policy shift immediately in retaliation to a point where it is MAD - Mutually Assured Destruction. Both economies will go down. It doesn't mean the USD gets supplanted at all. However, you just want someone a bit more proactive & nimble minded then Janet Yellen taking up space as Sec of Treas. ... There's more of a threat in gradually changing world payment structure to another currency <<<< that's a China play because it's a longer term proposition versus a "dump"; albeit, Peter Zeihan, who I don't follow, gives China 10 years before they implode.. So, is China desperate to move now? Nawh. ..... BRIC is a potential threat to gradually change payment structure. And, as for Russia,...as long as Joe is President, that war will persist.
- Did you know Institutions own 60% of XOM? If Institutional ownership remains unchanged by the time XOM completes the share buyback program, Institutional ownership will move to approx 68%.
- CVX Volume was 3X today too.
- Warren has not sold any OXY.
- Lot's of talk in the press about selling energy. I would think twice before doing so.
- Baker Hughes reported this week 8 more rigs taken out of production.
- Saudi begins the 1 million bpd cut on July 1st.
- The Green Energy faction says "Demand Destruction". Farmer says "Supply Dismantling"
- China's economy is reopening in a very big way. MSM is playing it down on the airwaves here in the U.S.

I hope this information helps you in some way.

Great stuff. The markets are going to have a consolidation pullback, and any further drop in XOM would likely result in extended oversold bands that would quickly snap price action back within mid ranges.

Always good to get a good start to a new positions…

Definitely Not A Cop said:

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Sorry, making sure I'm understanding, you expect XOM to consolidate even further before the trend reversal?

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I don't know, but if markets go into even sideways consolidation, stocks trending sideways or down usually draw down further to previous major support. Last time that was $102 area. Would love to see it fail under $100 for flash down like lat time it broken $100 - it went to $97.60.

Happy Father's Day Gents. Hope y'all have had a Blessed one.

FJ43 said:

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Happy Father's Day Gents. Hope y'all have had a Blessed one.

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FJ, I was blessed tremendously today. I spent most of the day alone with my dad in the hospital. I know that doesn't sound that great, but earlier in the week I was pretty sure I wouldn't get this Father's Day with him. My mom hadn't left the hospital for a week, but I was able to convince her to go home and take a break today, which gave me most of the day with him. So, just a reminder to not take time with your parents (or any loved one for that matter) for granted.

And yes, he is doing much better.

Yes you were very Blessed to get to spend that time with him…..and so right to not take it for granted. Lost my dad about 8 years ago. My wife lost hers last October.

Thanks for sharing your story. I'll be praying for you, your father and your family.

FJ43 said:

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Yes you were very Blessed to get to spend that time with him…..and so right to not take it for granted. Lost my dad about 8 years ago. My wife lost hers last October.

Thanks for sharing your story. I'll be praying for you, your father and your family.

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Thank you. Prayers are always welcome.

Happy Fathers Day FJ, and happy Fathers Day to all of you Dads!

spud1910 said:

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FJ43 said:

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Happy Father's Day Gents. Hope y'all have had a Blessed one.

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FJ, I was blessed tremendously today. I spent most of the day alone with my dad in the hospital. I know that doesn't sound that great, but earlier in the week I was pretty sure I wouldn't get this Father's Day with him. My mom hadn't left the hospital for a week, but I was able to convince her to go home and take a break today, which gave me most of the day with him. So, just a reminder to not take time with your parents (or any loved one for that matter) for granted.

And yes, he is doing much better.

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Praying for y'all.

Lost the old man five years ago. This day is a kick in the nuts every year.

What I would give for one more chat with him.

FTAG 2000 said:

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spud1910 said:

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FJ43 said:

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Happy Father's Day Gents. Hope y'all have had a Blessed one.

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FJ, I was blessed tremendously today. I spent most of the day alone with my dad in the hospital. I know that doesn't sound that great, but earlier in the week I was pretty sure I wouldn't get this Father's Day with him. My mom hadn't left the hospital for a week, but I was able to convince her to go home and take a break today, which gave me most of the day with him. So, just a reminder to not take time with your parents (or any loved one for that matter) for granted.

And yes, he is doing much better.

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Praying for y'all.

Lost the old man five years ago. This day is a kick in the nuts every year.

What I would give for one more chat with him.

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Man, ain't this the truth. My dad died 1/1/22 at the age of 61. I miss him every day, but would love the chance for one more hunt or day on the lake.

I'm 61 and this really hit me. Way too soon.

My dad is 87 and he looks in his mid 70's, but as time goes on I can see the changes. Certainly have been blessed to have him this long and his parents lived into their mid 90's. I pray he remains able to fish and golf to the end.

Thanks for the kind words, guys.

AgEng06 said:

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Thanks for the kind words, guys.

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You and I are on the same road my friend. The supportive posts are genuine and are perfect examples of why this place is so special and the best thread on TA.

My dad is getting near the end of his journey, but we are just here to help him down the path for now. Mom is in a lot of pain, and is not far behind. So it will be a mixture of devastation and Joy knowing where they are headed when they depart.

As ProgN says, these TA forums have some really genuine caring people, and so proud to be a small part.

Sorry to derail the thread, but thank you to everyone who shared. When I come here I feel like I am among friends.

oldarmy1 said:

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$30,000 Millionaire said:

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Last couple of fed days things have dumped the day after. Wonder what it's gonna be.

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One thing about these initial breaks in futures. Regardless of what happens today, generally it is a signal that a sell off pull back is coming within 3 days. Let's see how that plays out.

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Write it in your trading notes. 3 Trading Days.